One big thing would be to urge myself to talk to a full-service CPA firm either before or immediately upon acquiring the first rental.

@Bhuja Parikh Unless you work with a wholesaler to find you a property in some sort of a distress and be able to acquire it at a substantial discount, you'll have a hard time finding anything close to a decent property (maybe in a C or D area?) 

When acquired, the property was mismanaged, there were tenant issues, deferred maintenance, and was rented at below-market rates.

@Celine LiuI have never acquired a property via seller financing but a lot of people suggest giving 2 offers to the seller.

Hi all.  I would like some help on what you would do if you were in my situation.  So here goes:looking to find first SF or MF deal.primary home has a 2.65% rate and approximately 7-8 years left to pay on it.  Worth a...

This is value add opportunity- rents had previously been under market value (450/month) and since acquiring the property and renovating it, the management team recently raised the rents to match market value in the area (525/month) The property is projected to generate over 25k of monthly income, a cash flow of almost 11k a month, and the annual cash on cash ROIis projected to be nearly 32% This would be my first large multi-unit apartment deal and I’m looking to either obtain a commercial loan for the property or (ideally) find private/hard money lender that would might also (eventually) serve as a partner/mentor/associate/eventual first to a smart, hardworking, and ambitious young real estate investor.

I acquired a property at a sheriff's sale, but the owner has a history of coming up with the money or selling her redemption rights during the redemption period.

For tax purposes you are acquiring a personal residence(1 unit) and a rental property(2 units). 

We are about two weeks away from completing the renovations and listing the property for sale.Currently I am in the midst of acquiring two rental properties in a Class D+/C- neighborhood.

I think I learned a valuable lesson today and couldn’t agree with you more haha but every bit of it is important because any honest “wholesaler” (which I’m now no longer sure the meaning of the word) can see the pain points and strive to be the opposite of the apparently stereotypical wholesaler mold and just are there to acquire and move solid deals with realistic numbers